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If an investor has a cash sum of $1,000,000 at his disposal, how many bonds...

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Finance

If an investor has a cash sum of $1,000,000 at his disposal, how many bonds with a face value F = 100 and a dirty price of 102.15% can he purchase? In bond trading, explain what is the difference between the clean and the dirty price of a bond? Critically assess the validity of the following statement: The dirty price of a bond is always larger than the clean price.

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